South Korea based VC investor DFJ Athen has taken part in a Series A investment round in San Francisco based, Mobeam Inc. According to a press release on Market Watch, DFJ Athena, a Korea-focused venture fund affiliated with Draper Fisher Jurvetson, has added $1.5 million to a $4.9 million series A round that started last year. According to information available, an unspecified portion of the $1.5 million was also contributed by Mobeam investor and board chairman, Ben Dupont. DFJ Athena’s investment also earned Managing Director Perry Ha a seat on Mobeam’s board.
Mobeam’s technology makes bar codes displayed on a phone or other mobile device readable by the laser scanners used in most stores. This method allows retailers to scan coupons displayed on mobile device’s screen without uprading their point of sale equipment. Mobeam announced in December that it is partnering with Procter & Gamble to bring the technology to market as the first mobile coupon system.
This round of investment will be used to establish Mobeam’s light based communications technology as a new industry standard as well as to accelerate the company’s business development projects.
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